Motion requests review of preferential trade access in response to autocratic backslide
More than two-thirds of Cambodia’s $4.3 billion in bilateral debt is owed to China, according to the International Monetary Fund.
Although about 65% of all businesses in Cambodia are owned by women, they lack access to finance, training, mentorship and information that could allow more women to grow their businesses.
Cambodia exported about $4.5 billion worth of products to the E.U and about $2.8 billion to the United States in 2016, according to official trade figures.
China has backed a crackdown on Hun Sen’s political opponents, independent media outlets and civil society in recent weeks that has seen the country’s main opposition party banned amid a growing paranoia that foreign interests have plotted to overthrow him.
Some 40 to 50 percent of Cambodia’s garment exports end up in Europe, the unions argued, which would make any punitive sanctions extremely damaging to the Cambodian economy.
The World Bank report comes as western nations consider sanctions against Cambodia for the dissolution of the main opposition party.
One-third of the 1,500 participants are from the United States, one-third from India, and the remainder from the rest of the world.
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"The US-ASEAN relationship always included a large amount of American foreign direct investment into the various countries in Southeast Asia, but in recent years we’ve begun to see greater foreign direct investment into the United States from the ASEAN region as well," said Marc Mealy.
A Cambodian government spokesman said the political situation in Cambodia was unlikely to be on the agenda at the summit in Manila on November 13.
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